Continuing rise in property sales for Cyprus

The number of property sales in Cyprus continued to rise in September with the number of sales contracts deposited at Land Registry Offices across the Republic up 14 per cent compared with September 2017. 

DURING September 2018, the number of property sales contracts deposited at Land Registry offices across the Republic of Cyprus rose 14% compared to September 2017 according to official figures published earlier today by the Department of Lands and Surveys. Property sales have been rising for 17 consecutive months and this September rise follows a rise of 14% in August, 21% in July and 2% in June. 

During September a total of 687 contracts for the sale of residential and commercial properties and land (building plots and fields) were deposited at Land Registry offices, compared with the 602 deposited in September 2017. Although sales in Famagusta fell 21% compared with September 2017, they rose in all the other districts. In percentage terms Nicosia led the way with sales rising by 36% followed by Limassol, where sales rose by 24%, while sales in Larnaca and Paphos rose by 13% and 3% respectively. 

Property sales – year to date
Between January and September 2018 sales have increased by 21% with the number of sale contracts deposited rising to 6,706 compared to 5,523 deposited during the same period last year. 

So far this year sales in Famagusta have risen 37% and sales in Nicosia have risen 34%, while sales in Limassol, Paphos, and Larnaca have risen 24%, 13% and 10% respectively. (The sales figures include an unknown number of properties acquired by banks as part of loan restructurings, etc.)